Indian LED lighting market to grow to USD 478 million
The Indian LED (light emitting diode) lighting market is expected to touch USD 478 million by 2015 and Philips Electronics India Ltd. is uniquely positioned in the segment, a company official said Wednesday.
Speaking to reporters here showcasing Light Next - an interactive lighting experience centre, Nirupam Sahay, president at Philips Lighting said: "The LED market in India is expected to touch USD 478 million by 2015 from the current USD 101 million in 2011."
He said the growth drivers from the segment are the decline in LED prices, investment by government in energy efficient lighting systems and the quick return on investment (ROI).
According to him, Philips is uniquely positioned in the LED lighting segment across the spectrum and the company commands 30 percent market share in the domestic lighting segment.